The paper positions empirical views of Japanese managers in the groceries / retail sector with the novel theoretical tool called the ‘rationality of ends/market orientation-grid.’ The grid distinguishes different managerial predispositions, ranging from self-interested opportunism and self-interested egoism to self-interested altruism and authentic altruism. These rationality features are related to a continuum of market features which range from perfect competition to imperfect competition. Based on the theoretical application of the rationality of ends/market orientation-grid, the researcher found that most observed business ethics behavior in the Japanese groceries / retail sector did not step outside charitable altruism and the compliance with legal regulation that reflected organizational slack. Ethical innovation or ethical stakeholder management showed up only in minor degrees. This leaves room for future business ethics programs. Based on the theoretical analysis and the empirical findings made, the paper makes certain business ethics recommendations for managers in this respect.